Mozambique’s cotton exports fell by a significant 56% in the first quarter of 2024, totaling just 3.7 million dollars. This figure represents a reduction of 4.7 million dollars compared to the 8.4 million dollars obtained in the same period last year, according to data released by the Bank of Mozambique and compiled by Lusa.
The Bank of Mozambique report, quoted by O PAÍS, points out that the drop in income was driven by the 1.4% decrease in the price of cotton fiber on the international market. Despite the 36.2% increase in the volume exported, the reduction in prices negatively affected total earnings.
Francisco Ferreira dos Santos, president of the Cotton Association of Mozambique (AAM), stressed the importance of cotton to the country’s economy, describing it as an essential crop with a significant value chain. “Cotton is almost sacred, playing a catalytic role in both the economy and demographics,” said Santos, mentioning that historically cotton has generated between 30 and 50 million dollars in annual exports over the last ten years.
